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Stephen Cutler Has A Point About The Increasing Size Of Settlements

The Insider: White Collar Defense and Securities Enforcement

In late November, J.P. Morgan, the Justice Department and other agencies reached a $13 billion settlement over practices involving mortgage securities. Three days later, J.P. Morgan’s General Counsel, Stephen Cutler, participated in a panel discussion hosted by a trade group named The Clearing House. According to a November 25 article in the The Wall Street Journal, Mr. Cutler remarked, “At what point does this stop?,” referring to fines for J.P. Morgan and other banks. [...]